It is now legal to enter and remain in the UAE under new Golden Visa regulations and long-term visit visas.
The UAE Cabinet, which is led by Sheikh Mohammed bin Rashid Al Maktoum, the UAE Vice President, Prime Minister, and Ruler of Dubai, has already begun implementing the sweeping changes that were first announced on Monday, April 18.
Some of those who will be granted long-term visas include investors, business owners, startup founders, extraordinary talent, scientists, experts from a range of fields, excellent undergraduate and graduate students, pioneers in humanitarian work, and frontline heroes.
The benefits of long-term visas and Golden Visas will also be available to direct family members. There is no age restriction for unmarried daughters, and the age at which a child may be sponsored by the bearer of a Golden Visa or Green Residence visa has been raised from 18 to 25. Children of determination, regardless of age, are issued a residency permit.
Foreigners are now able to live, work, and study in the UAE without the need for a national sponsor and with full ownership of their business on the country's mainland thanks to the 2019 introduction of the UAE Golden Visa residency program. Revised regulations have made it now easier to qualify for 10-year visas because more people from a wider range of vocations can apply for the Golden Visa.
UAE Golden Visa has helped the nation take the top spot globally in the immigration industry
The five-year version of the UAE Green Residence visa, which caters to exceptional talent, highly qualified professionals, freelancers, residents who are self-employed, investors, and business owners, has replaced the previous two-year version.
In order to help visitors, tourists, and job seekers, the UAE Cabinet has authorized a number of new entry permits and visas that, for the first time, do not need a host or sponsor.
Global sectors have experienced significant transformations as a result of geopolitical instability; the immigration sector, in particular, has undergone significant change, including an influx of European investors. Due to this, the UAE has attracted the most high-net-worth individuals.
UAE Golden Visa will support local startups
The long-term UAE residency visas and entry permits, along with the Golden Visa program, will have a favorable knock-on effect on the economy. The UAE is able to draw the best and brightest from the region and beyond thanks to the visa reforms. According to a set of new executive regulations announced by the UAE Cabinet, entrepreneurs and startup owners in the UAE will be able to more easily get the long –term 10- year Golden Residence visa.
Golden Visa will facilitate long-term budgeting and help enterprises
The UAE Cabinet has modified its Golden Visa program to include experts from more different disciplines and relax the eligibility requirements in order to aid in attracting and retaining outstanding talent across multiple sectors.
With the help of this program, investors, businesspeople, founders of startups, professionals, and exceptionally gifted people can apply for long-term residency for up to 10 years with the possibility of renewal in order to live, work, or invest in one of the most multicultural countries in the world. With a Golden Visa, foreigners can avoid the requirement of a native sponsor and keep full ownership of their companies on the UAE's continental territory.
The UAE's new Golden Visa rules will revolutionize the real estate industry
For the UAE's real estate sector, the new Golden Visa requirements are a "game-changer," adding to the momentum it has gained over the previous 18 months. Like so many recent initiatives, this is a game-changer and will help the UAE cement its position as the region's principal center for business and investment. This would also benefit the Dubai real estate market, which has been seeing record-breaking growth for the previous 1.5 years.